An Overview of Personal Loans

With the economy in such dire straits, many people are looking to different types of loans to take care of their bills while searching for second jobs. Personal loans are loans made directly to the borrower from a bank or lending house. Covering everything from medical bills to credit cards to student loans, these loans are helping people get what they need, when they need it. While there are many different types of personal loans, the can all be categorized as one of two different types: secured and unsecured. Which type of loan you get is dependent on what you will be using the money for. Some loans are available in both secured and unsecured options, while others are only found as one or the other.

Secured personal loans are provided by specific lenders, and have their repayment secured by a physical item. This is how they get their classification. The two most common types of secured loans are home mortgages and car loans. The loans are made specifically for a single purchase. This purchase is repaid in set amounts every month over the length of the loan. If payments are ceased, the lender repossesses the item – the car or the house – in lieu of payment. In contrast, Unsecured Personal Loans are the more common and the more recognizable. Unsecured loans cover a vast majority of ground, from store lines of credit to student loans to medical bills. Once these loans are issued, they can be used for a range of items and services. In addition, many unsecured loans have variable interest rates that can change monthly or annually.

For people who need extra money to pay for a car or a college education, personal loans are available to help fund their needs lenders are available for all credit situations.

CBC paints brokers with same brush as ‘shadow’ lenders

  • barry on 2015-07-27 10:59:57 AM

    And, in a call with, Yalnizyan admitted she was unfamiliar with monolines and the fact they are regulated and CMHC insured. Just another example of the nations broadcasters personnel making statements without knowing all the facts.

  • Ron Butler...

Today’s Technological Impact On Mortgages | Benzinga

The Federal Savings Bank shares a report on technologies impacting the online mortgage process.

Chicago, IL (PRWEB) July 18, 2015

Technology has continued to become a more integral part of our lives and its no surprise that its beginning to influence the real estate industry as well. The Federal Savings Bank was intrigued by a recent July 6th report by Trulia, an online real estate company, highlighting the process of looking for a mortgage is now entering the digital marketplace.

Technology will improve the mortgage industry
Because young, interested first-time home buyers use technology so often for everything from remaining connected with friends and loved...

Transactions: Meridian Capital’s $6.3M in new mortgages, GCP Capital’s $46.8M …

Meridian Capital announced the following transactions:

  • New mortgages totaling $6,265,000 were placed on five multifamily buildings composed of 27 units located on East 126th Street, West 123rd Street , West 136th Street, West 138th Street and West 147th Street in New York, NY. The loans feature rates of 2.93% and five-year terms. These transactions were negotiated by Judah Hammer and Daniel Neiss.
  • A new mortgage in the amount of $22,690,000 on a 13-story, 128-unit multifamily property located on Edgecombe Avenue in New York, NY. The loan features a rate of 3.00% and a five-year term. Judah Hammer and Daniel Neiss negotiated this transaction.
  • A new mortgage...

7 Steps to Improve Your Business Credit and Get a Better Loan – Small Business …

Having a good business credit score is key to getting business loans on favorable terms today.

Yet, a surprising number of small business owners don't think about business credit scores until it comes time to get financing to expand the business or address some other need.

According to Tom Green, Vice President of New Business Initiatives at Lending Club, poor credit scores are one of the top reasons that entrepreneurs get turned down for business loans.

Here are seven steps to improve your business credit score, so you can get the most favorable business loan decisions possible:

Step 1. Establish a (Separate) Business Entity

According to US government figures,...

Audit finds misuse of Hawaii County credit cards not common – Hawaii News Now …

HILO, Hawaii (AP) - An audit of the Hawaii County government found that misuse of county credit cards is not widespread, but confined to Mayor Billy Kenois office and one other department.

West Hawaii Today reportsthat Legislative Auditor Bonnie Nims said in a report Friday that she found 64 transactions totaling $29,961 that did not follow policy, had a questionable purpose and may have violated laws.

The audit found that Kenois record keeping was inconsistent, with many purchases going without receipts of explanations.

Kenoi has admitted to using the card for big bar tabs and surfboards. He has paid back more than $31,000 of the almost $130,000 he charged during his tenure.


Financing Options Are Finally Catching Up With Coding Bootcamps’ Growth

When Jon Stowe, president of Dev BootCamp, arrived at the White House for a roundtable discussion with members of Cabinet last fall, he wasn't sure what to expect. He looked out at the faces around the room: Vice President Joe Biden, Chief Technology Officer Megan Smith, Secretary of Labor Thomas Perez, mayors and corporate CIOs from around the country. It was a formidable audience.

Stowe began describing Dev BootCamp's approach to teaching students how to code, and the high-paying jobs its graduates were landing. The main reason that an accepted student chooses not to attend is financing, he says he told the group during the closed-door conversation.

Biden indicated that the government...

Do Credit Cards And Personal Loans Really Help Your Credit Score? – Forbes

A good credit score can help you get approved for a mortgage or auto loan. Your credit score will also determine the interest rate you pay on your loans. Banks give much lower interest rates to people with high scores.And in some states, your credit score even impacts how much you will pay for auto insurance.

There are a lot of myths out there about how to improve your credit score. One of the most common is that you have to go into debt in order to have a good credit score. Almost every week at least one person asks me if they should borrow money on a credit card or personal loan to improve their credit score.

Here are two important facts that can help you save money and keep...

Mark Carney says mortgage interest rates could rise within months

The era of ultra-cheap mortgages is coming to an end and interest rates could rise within months, the Governor of the Bank of England warned.

Rates in Britain have been at a record low of 0.5 per cent since March 2009 - slashing the cost of borrowing for millions of families.

But Mark Carney said households should now get ready for rates to rise at 'around the turn of this year' - opening up the possibility of a rate hike before Christmas or in the New Year.

The intervention, during a speech at Lincoln Cathedral, put millions of borrowers on stand-by for more expensive mortgages in future.

A rise in Bank Rate from 0.5 per cent to 0.75 per cent would add £18 a month...

Number of mortgages offered to pensioners plummet

The new data, released by the Council of Mortgage Lenders, shows an 11 per cent annual fall in new mortgages to the over-65s, excluding lifetime mortgages, where outstanding loans are paid off from mortgage holders' estates after they die.

The figures provide the first insight into the impact stricter rules appear to be having on pensioners trying to re-mortgage or take out a new loan since the mortgage market review was implemented in April 2014.

RentalRoost Releases Experian Credit Report Sharing Tool — PLEASANTON, Calif …

RentalRoost Releases Experian Credit Report Sharing Tool

Home and Rental Search Engine Releases Experian Credit Report Sharing; Can Be Initiated By Tenants To Share With Landlord(s) or by Landlords To Request From Tenant(s)

Jul 21, 2015, 09:00 ET from RentalRoost Inc.

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